Carlsbad, NM

Price $2,100,000
Cap Rate 6.00%
TYPE Single-Tenant
STATUS Under Contract
Tenant McAlister's Deli
LISTING AGENT Justin Carlson
480-214-5088 x105

Property Description

McAlister’s Deli is a fast casual restaurant with a brand new 12 year Absolute NNN lease, 8.0% rental escalations every 4 years and two 5 year renewal options. The tenant, Southwest Deli Group, Inc., has 31 locations with 4 restaurants under constructions. This is a high volume location, doing well above the national average in sales with an attractive 6.80% rent-to-sales ratio!

The subject property is located in Carlsbad, New Mexico, and is a pad site to Carlsbad Mall – a 34,364 SF shopping center anchored by Bealls and Big 5 Sporting Goods. McAlister’s is also adjacent to Carlsbad Medical Center and within 1 mile of New Mexico State University – Carlsbad. Nearby retailers include Lowe’s Home Improvement, Jenkins Home Center, Hibbett Sports, Ross Dress for Less, Dollar Tree, Dollar General, Family Dollar, Walgreens, Allen Theatres, etc.

*In Association With: Richard Hanna | Hanna Commercial LLC | License #9158

Property Highlights

  • Brand New 12 Year Absolute NNN Lease with 8.0% Rental Escalations every 4 Years
  • High Volume Location: Doing Well Above the National Average in Sales with an Attractive 6.80% Rent-to-Sales Ratio!
  • Situated on a Pad Site to Carlsbad Mall, Adjacent to Carlsbad Medical Center & Within 1 Mile from New Mexico State University Carlsbad
  • Tenant: Southwest Deli Group, Inc. – Has 31 Locations with 4 Restaurants Under Construction
  • Pending Patio Remodel: Due to Strong Sales Performance, Tenant is Enclosing 375 SF Patio, Slated for Completion Spring 2018!
  • Demographics – Total Population: 37,449 | Average Household Income: $82,532 | Population Growth 2010-2017: 14.49%